You guys shock and scare me sometimes. The stickys shines some light onto this subject.
Transmission FAQ: Read if you are thinking of upgrading!
First off. Cryo treating and shot peening are two different things. Allow me to steal more useful info from that thread lil shoaf posted. (shoaf basically took what was on Unabombers manafesto on nasioc) Read it and take from it what you want. To have both of these processes done, can't be cheap. Let alone you have to take your entire trans apart to cryo treat and then shot peen it.
What is cryo treatment? Simply put, it is a process of freezing parts to -300°F to improve their properties. It is a "dry" process, during which the parts are never put in contact with the liquid nitrogen. The parts are cooled very slowly and then held at a temperature of about -300° F for anywhere from 24 to 36 hours, and then brought very slowly back to room temperature. Deep cryogenic tempering creates significant increases in abrasive wear resistance and durability. These improvements may be accompanied by increases in tensile strength, toughness, and stability coupled with the release of internal residual stresses. While cryogenic treatment is primarily used to improve the properties of the material, it can also provide stress relief, reductions in stress-relief cracking, improved surface finish, and improved machinability.
What is shot peening? Shot peening is a cold working process in which the surface of a part is bombarded with small spherical media called shot. Each piece of shot striking the material acts as a tiny peening hammer, imparting to the surface a small indentation or dimple. In order for the dimple to be created, the surface of the material must be yielded in tension. Below the surface, the material tries to restore its original shape, thereby producing below the dimple, a hemisphere of cold-worked material highly stressed in compression.
Nearly all fatigue and stress corrosion failures originate at the surface of a part. Further, it has been well established that cracks will not initiate or propagate in a compressively stressed zone. Since the overlapping dimples from shot peening create a uniform layer of compressive stress at metal surfaces, the process provides considerable increases in part life. Compressive stresses are beneficial in increasing resistance to fatigue failures, corrosion fatigue, stress corrosion cracking, hydrogen assisted cracking, fretting, galling and erosion caused by cavitation. The maximum compressive residual stress produced just below the surface of a part by shot peening is at least as great as one half the yield strength of the material being peened.
Shot peening increases the lifespan of treated metal components by ~20%.